Is virtual currency ultimately a pipe dream or a Ponzi scheme? On the other hand, the A-share market is heading straight for 5,000, supporting the nation’s backbone!
This sentence couldn't be more appropriate for today. The A-share market soared 5.7% in just one morning, and the trading volume was even more astonishing, breaking through one trillion in just 35 minutes. The full-day trading volume should be able to break 3 trillion. Now all the communities are talking about the A-share market, and even the groups that have been busy with dogs and memes for years have started talking about the A-share market. Of course, this is also related to the big bitcoin correction today. Now most of the retail investors in the currency market go wherever they can make money. It has to be said that the recent domestic stimulus policies have been too fierce, and have had a blood-sucking effect on the currency market to a certain extent, but fortunately, the blood-sucking window period is only one day.
Next, the country will have to welcome a 7-day holiday that is squeezed together by adjusting the leave of absence, and then the market will return to the trend dominated by the U.S. stock market. Although the market has corrected today, my view on the currency market in the next two weeks remains unchanged. I believe that the currency market will still be dominated by an upward trend until the election.
In addition, there is another important positive news coming to the market. Rumor has it that FTX will compensate $16 billion in funds, and the compensation date is September 30. Then this news was quickly denied by relevant personnel, saying that the compensation plan has not yet been approved.
But there is no doubt that the 16 billion yuan of funds will soon enter the market. Yesterday, the entire bankruptcy sector ushered in a wave of take-off. FTT rose 83% in 24 hours and the price broke through 2 dollars. USTC Luna Lunc all ushered in a wave of sharp increases, with increases of 47.5%, 20% and 17% respectively. Suzhu also interpreted the 16 billion yuan of compensation funds entering the market. He believes that this money will be the main driving force for the recent market rise.
Especially for the three tokens $sol $ftt $btc, I personally think that if the compensation is paid in time, it may help Bitcoin return to the 70,000 point in the next two weeks. After all, when the 16 billion funds were withdrawn from the market that year, it brought a big blow to the currency market. Now the funds are returned, and with the help of ETFs, many outside funds will take the opportunity to get on board. Everyone can look forward to the subsequent market.
Views on the market:
The improvement of the macro environment is generally good for players in our financial circle. Therefore, although the price of the big cake fell in the morning, it did not fall below the key support and came to the rising trend line we talked about yesterday. It effectively fell below the trend line stop loss. The upper pressure level is 65450
Ethereum hit the lowest support level near 2600 this morning. There is still relatively strong support at this position, which is also a key position of the rising trend line. Therefore, if you are optimistic about the general direction in the future, this would be a good position to add to your position!
Overall, the environment has improved. We only have three months left this year to work hard. It’s time to go all out!
The market gives you an opportunity to increase your position, don’t miss it! Just do it!
Being in this market, I feel incredible. It only takes 3 big positive lines to change from a pessimistic bear market to a bull market. I thought it was a joke, but after experiencing it myself, I realized that there is no such thing as a joke, it is life itself.
Let's take a look at today's market. For example, the Shanghai Composite Index, which lasted for 8 months, has broken through the resistance line today, and it is an epic large-volume gap-up breakthrough. Putting aside subjective feelings, this trend must be a bullish trend in technical analysis. Breakthrough gap at key position + huge volume + bullish technical indicators + island-shaped reversal trend at the right bottom of the double bottom pattern, these elements are combined together, and there can only be one conclusion - this breakthrough is a true breakthrough.
It is indeed crazy in the short term, and there may be a correction after the National Day, but as long as today's large-volume breakthrough gap is not filled, there is no reason to be bearish on A-shares from a technical perspective.
The recent rise is completely different from the rebound in February this year, which was a rebound after the stock market bulls were liquidated. The fuel for this rise is the stock market bears, and it is also the release of the extremely suppressed emotions in the market. However, this crazy rise will not continue forever, and we will soon usher in a stage of shock turnover. At that time, it will also be a new and stable entry opportunity.
